Nigerian banker Jim Ovia’s Zenith Bank stake drops nearly $15 million
This follows a strong performance in January, when his shareholding surged by over $11 million between Jan. 17 and 30.
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Samih Sawiris’ Orascom Development Egypt posts $430 million in revenue for 2024
Orascom Development Egypt’s revenue surged 41.91% to $430 million in 2024, driven by record real estate sales and strong hospitality growth despite FX losses.
Egyptian steel magnate Ahmed Ezz loses $32 million from Ezz Steel stake
This represents a sharp reversal from the recent highs recorded in February, when the market value of his stake had surged to nearly $1 billion.
Vista, led by Black billionaire Robert F. Smith, explores $4 billion Granicus sale
While discussions are still in the early stages, Vista Equity Partners and Harvest Partners are aiming for a valuation of more than 20 times Granicus’ $175 million in EBITDA.
Botswana retail tycoon Ramachandran Ottapathu’s Choppies sells Zimbabwe unit to local retailer
Botswana’s Choppies exits Zimbabwe, selling its 30-store retail business to Sai Mart as it refocuses on profitable markets amid economic challenges.
Eaton, led by Black executive Craig Arnold, to acquire Fibrebond for $1.4 billion
The deal, subject to regulatory approval, will expand Eaton’s presence in the data center and industrial markets.
South African billionaire Patrice Motsepe’s ARM weighs sale of $821 million Harmony Gold stake
The company, which has been expanding into renewable energy, is weighing whether to hold or offload its 11.8 percent stake in Harmony, South Africa’s largest gold miner.
Karp’s fortune falls to $7.7 billion a month after joining Black billionaires worth over $10 billion
The decline is tied to the performance of his 2.63-percent stake in Palantir.
Mary Vilakazi leads Africa’s biggest lender to $1.23 billion half-year profit
Led by South African banker Mary Vilakazi, FirstRand continues to demonstrate resilience and solid returns for shareholders despite challenging economic conditions.
Aliko Dangote’s refinery, others under pressure as NNPC ends naira-for-crude deal
The move is expected to drive up operational costs and could lead to higher fuel prices.
South Africa’s Saltzman family sees $45 million wipeout as Dis-Chem shares plunge
This latest drop comes after a $26.33 million loss earlier in the year.
Edita, led by Egyptian businessman Hani Berzi, sees profits slip below $30 million on rising costs
While revenue surged, higher operational costs and currency devaluation cut into profits, pushing earnings below the previous year’s $30 million benchmark.
Moroccan businessman Alami Lazraq’s real estate stake falls below $700 million
The decline comes after a strong run earlier this year. Between Feb. 11 and 19, the value of Lazraq’s holding jumped by $89.7 million.
South African billionaire Patrice Motsepe to pocket $25.4 million from mining business
This payout comes despite a 25% dividend cut amid falling earnings and financial strain in a volatile commodity market.
Naguib Sawiris, Egypt’s second-richest man, is $469 million richer this year
This follows a $500 million gain in 2024 when his fortune increased from $6.48 billion to $6.98 billion.
South African billionaire Christo Wiese’s Shoprite stake drops below $1 billion—first time in months
The decline reflects growing pressure on retail stocks in South Africa, as investor sentiment shifts on the Johannesburg Stock Exchange.